Aaron Is a 34-Year-Old Head of Household and a Self-Employed

question 17

Multiple Choice

Aaron is a 34-year-old head of household and a self-employed taxpayer. He contributed the maximum amount to his IRA account during the current year, and his net earnings from his business totaled $29,000. How much can Aaron deduct for AGI this year?

• A)$- 0 -
• B)$3,200
• C)$3,800
• D)$5,000
• E)$5,500

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Definitions:

Self-Control

The ability of an individual to regulate their emotions, thoughts, and behavior in face of temptations and impulses.

Position Power

The authority and influence a person possesses within an organization due to the role or position they hold.

Legitimate

Conforming to established laws, rules, or standards, often carrying the implication of being justified or official.

Coercive

Relating to or using force or threats to persuade someone to do something or to achieve compliance.